Reserve Bank seeks submissions on proposed outsourcing rules

Release date

23 May 2016

The Reserve Bank is seeking submissions on proposed amendments to rules about outsourcing of services by registered banks.

If implemented, the rules would give the Reserve Bank better assurance about the provision of basic ongoing banking services in the event of service disruption, while allowing banks to capture the efficiency benefits of robust outsourcing arrangements.

The current rules state a range of outcomes that banks must be able to deliver on an on-going basis, and apply to locally incorporated banks with New Zealand liabilities of more than $10 billion.

After an initial round of consultation last year, the Reserve Bank is now proposing revised rules based on feedback it has received.

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